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Mar 31, 2020
Equity Residential Q1 2020 Earnings Report
Reported results for the quarter and provided an update on activities related to the COVID-19 pandemic and preliminary April 2020 operating statistics and withdrew full year 2020 earnings guidance.
Key Takeaways
Equity Residential reported its Q1 2020 results, highlighting its efforts to support residents, employees, and communities during the COVID-19 pandemic. The company withdrew its full-year 2020 earnings guidance due to the uncertainty caused by the pandemic.
Instituted programs to support hard-working colleagues and assist residents and communities.
Utilizing technology to allow property teams to interact remotely with current and prospective residents.
Offering resident renewals with no rent increase and providing flexible lease renewal options.
Creating payment plans, waiving late fees and halting evictions for residents who can document that they have been adversely financially impacted by the COVID-19 pandemic.
Forward Guidance
Due to the inherent uncertainty surrounding the social and economic disruption resulting from the COVID-19 pandemic, the Company believes it is appropriate to withdraw its full-year 2020 guidance and is also suspending issuing guidance in future periods until there is greater certainty surrounding the impact of the ongoing pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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